Double Hulling of Ships Market to Technological Innovations During 2015 - 2023
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Double hulling of ships market can be segmented on the basis of types of the tankers carrying crude oil and refined product. These tankers range from coastal tankers to mammoth tankers as ultra large crude carrier (ULCC), very large crude carriers (VLCC), long range crude vessels, Afra-max and Pana-max crude and product vessel. ULCC ranges from 320 - 550 thousands dead-weight (DWT), VLCC ranges from 160 - 320 thousands DWT, and others ranges from less than 160 thousands DWT. Single hulled ships can be converted into double hulled ships with some change in design. This is a complex process, however due to increasing governmental and maritime regulations many shipping companies have adopted this conversion.
Double hulling of ships was accepted by all the continents after some major oil spill incidents occurred that took many life and huge investment in corrective measures. The U.S. is one of the major exporters of crude products to many countries in Europe and Asia Pacific. This import-export of crude oil and refined product is only possible by tankers to countries in Asia Pacific region as pipeline transportation is not feasible and this is the longest route globally. Therefore, ships with appropriate construction designs are required for the safe and pollution free transportation. China and Japan are the largest manufacturer of the ships with double hulling design globally.
Increasing governmental regulations of maritime transportation is the main driving factor for double hulling of ships market. The need of improvements in ship designs for safer transportation of high value products at sea can augment the growth of this market in the forecast period. Increasing pipeline network can pose as a restraint for this market for shorter routes such as transportation from Middle East to India, the U.S. to European countries and others. However, there is no other substitute for ships in longer routes, therefore double hulling of ships market is expected to grow in future with the modest rate.
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Some of the major players in double hulling of ships market are Mitsubishi Heavy Industries Ltd., Samsung Heavy Industries Co., Ltd., Hyundai Heavy Industries Co., Ltd., Imabari Shipbuilding Co., Ltd and Shanghai Waigaoqiao International Trade Co., Ltd.
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